Leidos (LDOS) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Leidos (NYSE:LDOS) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $74.00 price objective on the aerospace company’s stock.
According to Zacks, “Leidos Holdings, Inc. (Leidos) is a holding company whose direct 100%-owned subsidiaries and principal operating companies are Leidos, Inc. and Leidos Innovations Corporation. Leidos is a global science and technology company that provides technology and engineering services and solutions in the defense, intelligence, civil and health markets. Their domestic customers include agencies of the U.S. Department of Defense, the U.S. Intelligence Community, the U.S. Department of Homeland Security, the Federal Aviation Administration, the Department of Health and Human Services, other U.S. Government civil agencies and state and local government agencies. Their international customers include foreign governments and their agencies, primarily located in the United Kingdom, the Middle East and Australia. “
Several other research firms also recently commented on LDOS. ValuEngine raised Leidos from a hold rating to a buy rating in a report on Friday, February 2nd. Credit Suisse Group reissued an outperform rating and issued a $81.00 target price (up from $79.00) on shares of Leidos in a report on Friday, February 23rd. Citigroup boosted their target price on Leidos from $71.00 to $75.00 and gave the stock a buy rating in a report on Monday, February 26th. Jefferies Group boosted their target price on Leidos from $75.00 to $80.00 and gave the stock a buy rating in a report on Friday, February 23rd. Finally, Cowen reaffirmed a buy rating and set a $72.00 price target on shares of Leidos in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $71.80.
Leidos (NYSE:LDOS) last released its earnings results on Thursday, February 22nd. The aerospace company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. Leidos had a return on equity of 17.47% and a net margin of 3.60%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. sell-side analysts anticipate that Leidos will post 4.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, March 14th. Leidos’s payout ratio is currently 53.78%.
Leidos declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 22nd that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director John P. Jumper sold 61,212 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $64.06, for a total transaction of $3,921,240.72. Following the transaction, the director now directly owns 306,709 shares of the company’s stock, valued at $19,647,778.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.
An institutional investor recently raised its position in Leidos stock. Cambridge Investment Research Advisors Inc. raised its position in Leidos Holdings, Inc. (NYSE:LDOS) by 89.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,566 shares of the aerospace company’s stock after acquiring an additional 7,352 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Leidos were worth $1,005,000 at the end of the most recent quarter. 73.78% of the stock is owned by institutional investors.
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Leidos Company Profile
Leidos Holdings, Inc (Leidos) is a science and technology solutions company focused on delivering solutions primarily in the areas of national security, health and engineering. The Company is a holding company whose direct 100%-owned subsidiary is Leidos, Inc, which delivers science and technology solutions in the areas of national security, health and engineering to agencies of the United States Department of Defense (DoD), the intelligence community, the United States Department of Homeland Security, and other United States Government civil agencies, state and local government agencies, foreign governments and customers across a variety of commercial markets.
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